BCAT Rights Offering Raises ~$43M at $13.30/Share, Only 3.3M of 21.3M Shares Taken
BCAT is trading near its 52-week low of $12.915 (1.8% above the low) on light trading volume (0.2× avg).
Summary
BCAT's transferable rights offering expired October 21, 2026, with about 3.3 million shares subscribed at $13.30 each for roughly $43 million in proceeds — only about 15.5% of the 21.3 million shares offered.
Key Events · Financing and Capital Events · BCAT
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Rights Offering Closes With ~$43M Raised
The offer expired October 21, 2026, with approximately 3.3 million Common Shares expected to be issued at a final subscription price of $13.30 per share.
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Take-Up Was Light Versus Shares Offered
Against the 21,255,200 shares the offer entitled holders to buy, only about 3.3 million shares were subscribed — roughly 15.5% of the maximum.
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Pricing Set at 98.5% of NAV
The $13.30 subscription price was determined by the formula of 98.5% of net asset value as of October 21, 2026.
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Fund Keeps Full Proceeds
BlackRock Advisors, LLC, the investment adviser, agreed to pay all expenses related to the offer, so the fund receives the entire ~$43 million.
Analysis · BCAT · Unknown
The rights offer closed with roughly 3.3 million shares sold at $13.30 — about 15.5% of the 21,255,200 shares on offer — bringing in approximately $43 million. That is a modest raise relative to the size of the offer, and the low take-up suggests limited shareholder appetite at a price set at 98.5% of NAV. Because BlackRock Advisors is paying all offering expenses, the fund keeps the full proceeds, and the new shares add capital that management can deploy under the fund's investment mandate. At $13.30, the subscription price sits only marginally above today's $13.15 market price, so the raise was priced close to where the shares trade.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.3% of the 1529 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BCAT was trading at $13.15 on NYSE in the Unknown sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $12.92 to $16.20. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.